Swiss Re
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The Swiss reinsurer follows Munich Re, Hannover Re and Zurich in withdrawing from the alliance. -
Everest Re’s $1.5bn capital raise could be part of a continued pivot, or an early indicator of a shifting marketplace.
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Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.
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The reinsurer has made a series of high-level reshuffles this month, including the appointment of Greg Schiffer as head of US national accounts.
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Swiss Re has appointed Greg Schiffer its managing director, head of US national accounts.
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Butera was previously head of P&C client markets US, in the company’s reinsurance division.
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The reinsurer said cat reinsurance rates hit a 20-year high, driven by losses, inflation and financial markets.
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Swiss Re estimates that inflation has peaked but is likely to remain persistent in 2023.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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The appointments will be effective July 1, subject to regulatory approvals.
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Chairman Kessler remains in place until the 2024 General Meeting when he will stand down on hitting the age limit of 72.
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The executive had previously served as the company’s vice president and senior treaty underwriter, based in Mexico.
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